Are there tax advantages to residence at Westminster Village North?
Rulings by the Internal Revenue Service indicate a portion of both your Life Occupancy Fee and your ongoing Monthly Service Fee may be tax deductible as pre-paid medical expense. Each January, our business office will provide you with a statement indicating the portion of your MSF that may qualify for this deduction. This is a benefit you should discuss with your tax adviser … and it’s available only when you reside in a CCRC!
